This course will provide students with a conceptual framework for effective economic decision-making. Units studied include basic concepts, Supply and Demand, Marginal Analysis, Market Structures, Measurement of Economic Performances, National Income, Finance, Fiscal Policy, and Economic Growth and Productivity. Considerable attention is given to personal fiscal policy. Students are encouraged to see how politics, international relations, and daily life are affected by economic factors. Class activities include films, speakers, discussion, game simulations, and student presentations. Grades will be based on tests, quizzes, and projects.

Microeconomics

Purpose: The purpose of studying Microeconomics is to provide a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

Knowledge outcomes:

Students will understand such topics as the basic economic concepts, the nature and functions of product markets, factor markets, and market failure and the role of government.

Macroeconomics

Purpose: The purpose in studying Macroeconomics is to provide a thorough understanding of the principles of economics that apply to an economic system as a whole. Such a course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

Knowledge outcomes:

Students will understand such topics as measurement of economic performance, national income and price determination, the financial sector, Inflation, Unemployment, and stabilization policies, economic growth and productivity, and international trade and finance.

Grading System

Grades are based on a point system. Each assignment is worth a certain number of points and will be returned to you scored with the points you earned out of the total points possible. For example, a homework assignment may be worth 10 points, while a test may range between 70-100 points. At the end of each marking period, points are averaged into percentages from which letter grades are determined. The grading scale based on the Weston High School scale is as follows:

97-100% = A+ 87-89% = B+ 77-79% = C+ 67-69% = D+

93-96% = A 83-86% = B 73-76% = C 63-68% = D

90-92% = A- 80-82% = B- 70-72% = C- 60-62% = D-

Below 60% = F

Quarter One Basic Economic Concept and Microeconomics

Unit 1: Basic Economic concepts

Essential Question: How does society best manage its resources?

• Scarcity

• Opportunity Cost

• Production Possibilities

Unit 2: Supply and demand and Consumer choice

Essential question: How do supply and demand impact markets?

• Supply and Demand

• Elasticity

• Equilibrium

Unit 3. Marginal Analysis

Essential Question: How do businesses select the optimal inputs to insure profitability?

• Profit maximization

• Marginal revenue and cost

Unit 4 Market Structures

Guiding Question: What role does competition play in a market economy?

• Perfect competition

• Monopolistic

• Oligopoly

• Monopoly

Unit 5 Entrepreneurship

Guiding Question: How does economic knowledge guide entrepreneurship?

PBL activity Franchise

Quarter 2 Macroeconomics

Unit 1 Measurement of Economic Performance

Essential question: How is economic growth and decline measured?

• GDP

• Inflation

• Unemployment

Unit 2 National Income and Price Determination

Essential questions – How do we determine the state of the economy?

• Aggregate Demand and Supply

• Short and long run equilibrium

• Full employment

Unit 3 - Financial Sector

Essential questions - How does the creation and supply of money impact the economy?